Rebecca(SH:600439) Chang Jiang Shang Bao·2025-07-27 23:46Core Viewpoint - 瑞贝卡 has been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure regulations, following multiple warnings for similar issues [1][2][3] Group 1: Regulatory Issues - 瑞贝卡 and its controlling shareholder, 瑞贝卡控股, received a notice of investigation from the CSRC due to suspected information disclosure violations [2] - The company failed to disclose its 2024 annual performance forecast, which indicated a net loss of 118 million yuan [2][3] - 瑞贝卡 has a history of regulatory warnings, including issues related to non-disclosure of transactions with related parties and inadequate provisions for inventory depreciation [4] Group 2: Financial Performance - 瑞贝卡's revenue for 2022, 2023, and 2024 was 1.258 billion yuan, 1.226 billion yuan, and 1.239 billion yuan, reflecting year-on-year changes of -19.65%, -2.57%, and +1.10% respectively [6] - The net profit for the same years was 33.94 million yuan, 12.30 million yuan, and a loss of 118 million yuan, with declines of 43.63%, 63.75%, and 1056.08% respectively, marking three consecutive years of decline [6][7] - In 2024, sales expenses reached 226 million yuan, a 61.87% increase from the previous year, contributing to the net loss [8] Group 3: Shareholder Actions - 瑞贝卡控股 plans to transfer part of its shares to raise 217 million yuan, reducing its stake from 28.4% to 22.22% [8] - The controlling shareholder has a high pledge rate of 69.98%, with 225 million shares pledged, representing 19.88% of the total share capital [8][9] - The company stated that the controlling shareholder's credit status is good, and it has the ability to repay debts [10]